Noida-headquartered HCLTech’s consolidated net profit rose 21.1 per cent year-on-year (y-o-y) to ₹5,132 crore in the second quarter ended September 30, outpacing the 11.5 per cent growth in revenue from operations to ₹35,620 crore, as operational efficiencies, expansion of existing client relationships and rising demand for advanced artificial intelligence (AI) services helped the company offset pricing pressures from AI-led automation.
The company also declared an interim dividend of ₹12 per equity share of face value ₹2 for FY27.
The performance reflects a shift in its growth drivers, with AI-led offerings adding to its traditional IT and engineering services business. HCLTech secured several contracts from companies in the US and Europe during the quarter to develop AI-powered solutions across manufacturing, banking, engineering and cybersecurity, among other areas. In the corresponding quarter last year, the company had reported a net profit of ₹4,236 crore and revenue of ₹31,942 crore.
On Monday, HCLTech announced a global partnership with Anthropic under which it will establish a dedicated business unit to develop agentic AI solutions using Claude for enterprise clients. Its software arm will also embed Anthropic’s AI models in select products.
Agentic AI systems can execute tasks and workflows with limited human intervention, potentially allowing businesses to automate more complex processes than conventional AI applications. The partnership will focus on helping enterprises adopt these systems, with an emphasis on safety, cybersecurity and governance.
“The accelerating growth in Advanced AI revenue validates our business strategy. Through strategic partnerships and continued investments across the full AI stack, HCLTech is well-positioned to be a trusted technology partner for enterprises and governments globally,” Roshni Nadar Malhotra, Chairperson of HCLTech, said.
The company’s IT and business services revenue rose to ₹26,938 crore from ₹23,693 crore a year ago, while engineering and research and development (R&D) services revenue increased to ₹5,973 crore from ₹5,423 crore. Growth across these businesses indicates that demand for technology services continues even as clients increasingly look to integrate AI into their operations.
HCLTech also reported an increase in the number of large clients, a key indicator of its ability to win sizeable contracts and expand business with existing customers. It had 23 clients generating more than $100 million in revenue during the quarter, compared with 22 a year ago. The number of clients in the $50-million-plus category increased to 62 from 54.
“A new offering in advanced AI is helping us capture a share of the ever-growing spend in the tech ecosystem. This quarter’s template is what we aspire to repeat in the future. We offset effectively the AI-related deflation, grow wallet share and market share in the core services and add a top-up to all of that by delivering strong growth in the advanced AI services,” C Vijayakumar, Chief Executive Officer and Managing Director of HCLTech, told reporters during a post-earnings call.
AI-related deflation refers to the pressure on traditional IT services revenue as AI tools automate tasks that previously required more human effort, potentially reducing the number of billable hours. HCLTech is seeking to counter this by improving productivity, expanding its share of existing clients’ technology spending and selling higher-value AI solutions.
Vijayakumar said the company was proactively embedding AI across its delivery model, both in existing and new engagements, with visible benefits in productivity, quality and client outcomes. AI was also deepening client relationships and driving larger engagements, he added.
The company’s outlook has also improved on the back of its order pipeline and demand for AI-related services. Vijayakumar said record first-half bookings, improved margin performance and investments in its full-stack AI capabilities supported a more optimistic assessment of growth prospects, although demand conditions remained fluid.
HCLTech has raised its revenue growth guidance for FY27 to 2.5-4 per cent from the earlier range of 1-4 per cent. Its earnings before interest and tax (EBIT) margin guidance remains unchanged at 17.5-18.5 per cent.
The higher growth forecast signals greater confidence in its ability to convert new contracts and demand for advanced AI services into revenue. However, the unchanged margin guidance indicates that the company continues to balance profitability with investments in AI capabilities, technology and talent.
Vijayakumar said HCLTech would continue to reinvest gains from operational efficiencies to strengthen its AI capabilities and expand its talent base.
Meanwhile, HCLTech declared an interim dividend of ₹12 per equity share of face value ₹2 for FY27.
Shares of the company closed at ₹1,220 apiece on the BSE on Monday, up 0.47 per cent from the previous close.
Published on October 12, 2026
